Archived Posts

News Flash: February 19, 2015

BIOFUEL

Europe needs to introduce practical incentives for best biofuels

The three year battle to reform Europe’s biofuels policy will resume later this month with a Parliament vote in the ENVI Committee on February 24, 2015. Since 2012, biofuel stakeholders have been unable to come to an agreement about the future of Europe’s biofuels policy. The debate pertains to a complex Indirect Land Use Change (ILUC) and its effects on biofuels. The biofuels industry in Europe is looking for stable policies to ensure investment and create jobs. EurActiv

 

INDUSTRY

Aldi in £1.2M deal with rapeseed producer

Aldi has seized eight percent of the UK rapeseed market through a single £1.2 million deal with Phoenix Specialty Oils. The discounted retailer has been selling its first permanent listing of cold pressed rapeseed oil at rates of 80,000 units per month, since its launch in 84 UK Aldi stores. Expectations within the first year are pegged around one million bottles, as the latest reports claim the rapeseed industry growth of forty-percent per year. Food Navigator

 

CANOLA

ICE canola up with outside oilseeds

The ICE Futures Canada showed stronger contracts for canola on Friday morning, according to analysts, in response to the advances seen in Chicago soybean and soy oil futures. Technical based buying, along with steady commercial demand for canola, were also strong. Canola strength may have also been affected by pressure from Malaysian palm oil futures and conditions for South America’s large soybean crop. About 5,980 contracts had been traded by 8:42 CST on Friday. Grain News

 

PALM

Crude palm oil up 1.3% on high demand

Futures of crude palm oil gained 1.33 percent in futures trading today as traders speculated their positions on rising demand in spot markets. Crude palm oil for delivery in February rose by Rs 6.20 in a business turnover of 53 lots at the Multi Commodity Exchange. The palm oil for delivery in March also rose by Rs 4.10 or 87 percent. Analysts credit positions built by participants following pick-up spot demands on reports of lower output in Malaysia, mainly led by crude palm oil prices at futures trade. Business Standard

 

SOYBEAN

U.S. Weekly Outlook: U.S. soybean production prospects for 2015

U.S. Soybean stocks were expected to end at an eight year high at the close of the current marketing year. The current soybean harvest in South America is estimated to reach a record of 6.066 bushels, 378 million bushels larger than the 2014 harvest, and 710 bushels larger than the 2013 harvest. The USDA has predicted South America soybean stocks to reach 2.205 billion bushels by September 1, 2015. This September prediction exceeds the inventory of the previous year by 525 million bushels. Soybean prices have remained relatively high considering the large U.S. and world soybean supplies. The un-weighted average price is likely near $10.25 per bushel during the 2014-2015 marketing year. SeedQuest

American Soybean Association urges European Union to accept U.S. Soy Sustainability Assurance Protocol to meet RED requirements

The American Soybean Association (ADA) believes that the recent approval of U.S. soybeans, certified by the U.S. Soy Sustainability Assurance Protocol (SSAP) to meet the Dutch Feed Industry Association’s (NEVEDI) need for sustainable feedstuffs, is seen as a step forward. The approval may also be able to serve as a model for the program to show how it could satisfy the same requirements under the European Union’s Renewable Energy Directive (RED). NEVEDI maintains sustainability standards for imported feedstuffs used in Dutch manufactured feed imported throughout Europe. NEVEDI also approved the SSAP as equivalent to its own sustainability requirements on Thursday. SeedQuest